ROHM CO., LTD. Financial Highlights for the First Nine Months... (From April 1, 2012 to December 31, 2012)
ROHM CO., LTD. Financial Highlights for the First Nine Months of the Year Ending March 31, 2013
(From April 1, 2012 to December 31, 2012)
Consolidated Financial Results
(Figures are rounded down to the nearest million yen. Any fraction less than the unit is rounded off.)
Year ending
First nine
Increase/decrease from
the previous year
31,2013 (Projected)
Cost of sales
Selling, general and
(1.0%)
(-3.2%)
(Operating income margin)
(Ordinary income margin)
(net income margin)
Basic net income per share
Ratio of net income to equity
Ordinary income to total assets
Equity ratio
Net assets per share
Foregin exchange rate
(Average yen-dollar rate)
yen/US$
from the previous
(Note1) The projected data are based on the information available at the time of release of this report. A number of important factors including
business conditions may cause actual results to differ materially from those projected, and therefore, the projected data are not intended to
guarantee to be achived by ROHM.
(Note2) This report is a translation of the financial highlights and financial report of the Company prepared in accordance with the provisions set forth
in the Securities and Exchange Law and its related accounting regulations, and in conformty with accounting principles generally accepted in
Japan. The original version of this report is written in Japanese. In the event of any discrepancies in words, accounts, figures, or the like
between this report and the original, the original Japanese version shall govern.
Contact: Public Relations and Investor Relations Div., ROHM CO., LTD.
21, Saiinローム
Mizosaki-cho, Ukyouku, Kyoto 615-8585 +81-75-311-2121
- Financial Highlights-
Financial Report for the First Nine Months of the Year Ending March 31, 2013
[Based on Japanese Standard] (Consolidated)
Listed Company Name: ROHM CO., LTD.
Stock Exchange Listings: Tokyo, Osaka
Code No.:
URL http://www.rohm.com
Company Representative:
(Title) President
(Name) Satoshi Sawamura
(Title) Director, Accounting Headquarters
(Name) Eiichi Sasayama
Scheduled Date for Submitting the Quarterly Financial Reports
Scheduled Dividend Payment Date
Preparation of Supplementary Briefing Materials for the Quarterly Settlement : Yes
Briefing Session for the Quarterly Settlement to Be Held
(Figures are rounded down to the nearest million yen.)
1. Consolidated Business Results for the First Nine Months of the Year Ending March 31, 2013
(1) Consolidated Results of Operations (Accumulated total)
(Note) Comprehensive Income
Millions of yen
First nine months of the year
ending March 31, 2013
ended March 31, 2012
(The percentages [%] represent changes from the first nine months of the previous year.)
Net income for the first nine
months of the year ending
First nine months of the year ending March 31, 2013: 14,614 million yen (—%)
First nine months of the year ended March 31, 2012: -34,104 million yen (—%)
Diluted net income per share
First nine months of the year ending March 31, 2013
First nine months of the year ended March 31, 2012
(2) Consolidated Financial Position
Year ended March 31, 2012
(Reference) Equity capital
First nine months of the year ending March 31, 2013:
Year ended March 31, 2012:
Shareholder's equity ratio
643,697 million yen
2. Dividend Details
End of the first
Year ending March 31, 2013
(Estimates)
Annual dividend
End of the third
(Note) Revision to recently disclosed dividend estimates: None
3. Consolidated Business Results Forecast for the Year Ending March 31, 2013 (From April 1, 2012 to March 31, 2013)
(The percentages [%] shown for FY2013 represent changes from the previous fiscal year.)
(Note) Revision to recently disclosed figures for consolidated business results forecast: None
Basic net income
(1) Major Changes in Subsidiaries during the First Nine Months of the Year Ending March 31, 2013
(Changes to specified subsidiaries accompanying revision on the scope of consolidation): None
New company ― (Company name:
, Excluded company
― (Company name:
(2) Application of specific accounting method for compiling consolidated financial statements: None
(3) Changes in Accounting Policies, Changes in Accounting Estimates, and Restatement of Revisions
[1] Changes in accounting policies according to revision to accounting standards:
[2] Other changes in accounting policies other than items indicated in [1]
[3] Change in accounting estimates
[4] Restatement of revisions
(4) Number of Shares Outstanding (common shares)
[1] Year-end number of shares
outstanding (incl. treasury stocks)
[2] Year-end number of treasury
[3] Average number of shares
during the period (Accumulated
total of the first nine months)
First nine months of the
5,585,746 shares
First nine months of
107,814,546 shares the year ended
113,400,000 shares
*Description Regarding Implementation Status of Quarterly Review Procedures
This quarterly financial report is not applicable to quarter review procedures based on the Financial Instruments and Exchange Act. At the time of disclosure of this quarterly
financial report, the review procedure for quarterly financial statements based on the Financial Instruments and Exchange Act had not been completed.
*Explanation on Adequate Usage of Business Results Forecast
Statements on business results forecasts in this financial report are as of November 8, 2012, and are based on information that ROHM had already acquired at that time as well
as specific premises that the company judged legitimate, therefore ROHM makes no promises as to attaining these forecasts. Actual business results may be considerably
different due to various factors. For presuppositional conditions used for business results forecasts and notes on using the forecasts, please refer to "Qualitative information
regarding consolidated business results forecasts" on Page 5 of the Financial Report for the First Nine Months of the Year Ending March 31, 2013 (Appendix).
ROHM CO., LTD. (6963) Financial Report for the First Nine Months of the Year Ending March 31, 2013
○Table of Contents
1. Qualitative information regarding the financial results for the first nine months of the current fiscal year
(1) Qualitative information regarding consolidated operating results
(2) Qualitative information regarding consolidated financial conditions
(3) Qualitative information regarding consolidated business results forecasts
2. Items regarding summary information (Note)
(1) Major changes in subsidiaries during the first nine months of the current fiscal year
(2) Application of specific accounting procedure for compiling consolidated financial statement
3. Consolidated quarterly financial statements
(1) Consolidated quarterly balance sheets
(2) Consolidated quarterly statement of income and consolidated quarterly statement of comprehensive income
(Consolidated quarterly statement of income)
(Consolidated quarterly statement of comprehensive income)
(3) Note on going concern
(4) Note in case of significant change in amount of shareholders' equity
(5) Segment information etc
*Separately attached as supplementary material are "Financial Highlights for the First Nine Months of the Year Ending
General Overview of Business Performance
The world economy in the first nine months of the current fiscal year continued to be weak due to China's economic slowdown
coupled with a prolonged economic recession in Europe, although signs of economic recovery were seen in the US and China
after the fall.
By individual regions, in the US, although the housing market showed signs of recovering after the fall, the overall recovery
continued to be sluggish due to a slowdown in the growth rate of production in the mining and manufacturing industries and
uncertainty over the tight fiscal policy. In Europe, the economy continued to slump because of lingering financial and monetary
problems, a high unemployment rate, and a slowdown in German economy, which has been strong until recently. In Asia,
although domestic demand, including the automotive market, was strong in China, decreasing export expansion, which was
affected by economic recessions in Europe and the US, slowed the pace of growth. Also, in India and South Korea (as in China),
sluggish exports slowed economic growth. In Japan, recovery due to reconstruction demand following the Great East Japan
Earthquake was seen in the first half of the year, but after the summer, exports, mining and manufacturing production remained
slow amid the backdrop of a sluggish world economy and the appreciation of the yen.
In the electronics-related industries, smartphones and tablet computers enjoyed robust sales, and the sales of game consoles
were on the rise. However, sales of flat screen TVs were sluggish due to little or no stimulus from the Olympics, which was
expected to provide a huge lift. Sales of energy-saving-related equipment were slow as business confidence deteriorated. The
personal computer market, which experienced a seasonal recovery in the first half of the year, adjusted after the fall. And the
automotive market in Japan, which continued to see strong sales, also entered an adjustment phase after the fall.
The electronic components industry, affected by a sluggish electronics market, continued to face difficult conditions. In Japan,
sales of electronic components for flat screen TVs remained stagnant. Electronic components for automotive applications and
high performance digital cameras, which regained positive ground in the first half of the year following the flooding in Thailand,
entered an adjustment phase after the fall. In Asia, thanks to the recovery efforts from the flooding in Thailand and others,
demand for electronic components for smartphones and tablet computers was strong in the first half of the year, however overall
sales were sluggish as production of flat-screen TVs decreased and the market for conventional mobile phones contracted. In the
US, automotive electronic components and telecommunication infrastructure-related equipment were both strong, but the markets
for industrial equipment and others recorded slower than expected sales. In Europe, the demand for components was slow due to
a downturn in the electronic equipment market.
Despite such prolonged circumstances, the ROHM Group remains committed to reducing its fixed costs by restructuring
production systems centered on ICs. In addition, the entire group made significant strides to cut costs through improved
efficiency by reviewing semiconductor materials and improving the yield ratio.
In addition, to increase sales over the mid- to long-term, the Group strengthened product lineups by focusing on the following
four growth strategies.
1. Enhancing IC products via synergistic collaboration with LAPIS Semiconductor Co., Ltd.
2. Strengthening our sensor lineup
3. Developing SiC-based power devices
4. Expanding LED operations to include LED elements, optical modules, and LED lighting equipment
In individual markets, the ROHM Group made concerted efforts to strengthen sales in two important areas where significant
growth is expected – the automotive and industrial equipment markets, the latter of which includes telecommunication
infrastructure, smart meters, power generation and power storage.
As part of its strategy for enhancing sales capacity, the ROHM Group increased sales personnel in important markets and
created new product strategy groups for different segments in order to provide new products in a timely manner ahead of market
needs. In addition, to improve support for global customers, the company proceeded to restructure the sales system from one
focused on individual regions into a global sales system centered on customers. And at individual overseas sites the ROHM
Group worked to enhance customer support capabilities by employing local FAEs(*1).
Regarding new product development, ROHM put much effort into enriching several product lineups, including 920MHz-band
specified low power radio(*2) compliant wireless modules that feature ultra-low power consumption with embedded wireless
communication ICs from LAPIS Semiconductor, compact isolated gate drivers that deliver low power consumption in hybrid
vehicles, low power LDO regulators(*3) for automotive applications, high reliability resistors for automotive systems, and ultracompact transistors and diodes for smartphones.
ROHM also continued to develop eco-friendly devices. This included upgrading the lineup and sales activities in Japan and
abroad for full SiC modules that incorporate an SiC SBD(*4) and SiC MOSFET(*5) in a single-package for use with industrial
equipment. In addition, ROHM initiated sales of the 'B-analyst'(*6) micro-blood analysis system in Europe, and commercialized
compact, lightweight, high-power hydrogen fuel cells(*7) under a joint development program with Aquafairy Corp. and Kyoto
University, which are expected to contribute to mid- to long-term growth.
As mentioned above, ROHM strengthened its efforts to recover its business results with company-wide efforts, but due to
continuing difficulties of the business environment, consolidated net sales in the first nine months of the year ending March 31,
2013 were 221,274 million yen (a decrease of 5.5 percent from the first nine months of the year ended March 31, 2012), and
operating income was 2,201 million yen (a decrease of 77.7 percent from the first nine months of the year ended March 31,
Ordinary income was 8,778 million yen (an increase of 8.7 percent from the first nine months of the year ended March 31,
2012) after foreign currency exchange gains, and net profit for the quarter was 2,360 million yen (net loss of 10,796 million yen
recorded in the first nine months of the year ended March 31, 2012).
*1. FAE (Field Applications Engineer)
Engineers and technicians who provide technical support and proposals, including technical information, to customers.
*2. Specified low power radio
A low-output-type radio that can be used without a license, qualification or registration. The 429MHz and other
bandwidths have already been approved, and the 920MHz bandwidth was recently opened in July 2012. Compared to the
2.4GHz bandwidth (which includes wireless LANs), these wavelengths can reach long distances easily even if there are
obstacles.
*3. LDO (Low Drop Out) regulators
Outputs a desired constant voltage from an input voltage. LDO, short for Low Drop Out, provides minimal voltage
conversion loss.
*4. SiC SBD
A Schottky barrier diode that uses SiC (silicon carbide). A rectifier diode made of SiC is suitable for high-temperature
operation at high voltages and provides superior high-speed performance with a Schottky junction.
*5. SiC MOSFET
A Metal Oxide Semiconductor Field Effect Transistor utilizing SiC. A MOSFET that uses SiC supports high-temperature
operation at high voltages and provides superior switching characteristics.
*6. Micro-blood analysis system 'B-analyst'
A proprietary system that performs a variety of high precision diagnostic tests using only a trace amount of blood. In 2008
the system was already being sold in Japan under the name of Banalyst®Ace. ROHM entered into a marketing alliance in
Europe with A. Menarini Diagnostics of Italy under the name of 'B-analyst' in November 2012.
*7. Compact, lightweight, high-power hydrogen fuel cells
A type of fuel cell in which hydrogen is formed and electricity generated after solidified calcium hydride is processed into
a sheet-like structure and water is added. This cell is safer and more portable than existing methanol and hydrogen fuel
cells using cylinders. It is also an extremely clean form of energy.
Overview of Performance by Segment
<ICs>
Consolidated net sales for the first nine months of the year ending March 31, 2013 were 107,125 million yen (a decrease of 5.8
percent from the first nine months of the year ended March 31, 2012), and segment losses for the period were 5,954 million yen
(segment losses of 2,776 million yen recorded in the first nine months of the year ended March 31, 2012).
In the digital AV equipment segment, sales of lens controller driver ICs for digital cameras and system power ICs increased in
the first half of the year, but then entered an adjustment phase after the fall. In the flat screen TV sector, several system power
ICs and timing controller ICs (*8) for LCD panels trended upward, but the effects were short-lived and severe conditions
persisted compared with the first nine months of the previous year. In the mobile phone sector, the demand for smartphones was
strong, but extreme price competition, coupled with the effects of a sluggish existing mobile phone market, continued the sparse
demand for LED driver ICs. For gaming consoles, sales centered on power ICs recovered as production started on new models
for the summer. Regarding personal computers, sales of motor driver ICs for fan motors and optical disks increased in the first
half of the year, but entered an adjustment phase again after the fall. For the automotive components market, sales of LED driver
ICs for headlights and rear lamps and several power supply ICs were robust. In the industrial equipment market, sales of generalpurpose ICs were strong, but the demand for sensor-related ICs and display driver ICs for smart meters were sluggish. In the
general-purpose sector, sales of EEPROMs (*9) and RESET ICs (*10) were on the rise, but then fell in the second half of the
At LAPIS Semiconductor Co., Ltd., a ROHM Group company, sales of low power consumption microcontrollers for the
security market and display driver ICs for the automotive market were strong, while the demand for P2ROM(*11) products for
the entertainment market was on the rise due to recovery in the gaming console sector in the second half of the year. However,
the decrease recorded for P2ROM products in the first half of the year was significantly large, causing a significant decline in
overall sales compared to the first nine months of the previous year.
Regarding production systems, ROHM closed the 6-inch wafer line at the main plant of ROHM Co., Ltd. in Kyoto, scaled
back 8-inch wafer lines at the main plant of ROHM Co., Ltd. and ROHM Apollo Co., Ltd. in Fukuoka Prefecture, and downsized
LAPIS Semiconductor Co., Ltd. in Tokyo. In addition, the Group endeavored to reduce costs by increasing yield ratios, changing
materials used for manufacturing, and improving production efficiency through the promotion of 12-inch power devices at
ROHM Hamamatsu Co., Ltd. in Shizuoka Prefecture and the consolidation of factories at LAPIS Semiconductor Miyagi Co.,
Ltd. ROHM also enhanced its BCM (Business Continuity Management) system against risks such as disasters by sharing
production lines with LAPIS Semiconductor Co., Ltd.
*8. Timing controller ICs
ICs that output the timing pulses necessary to display video on LCDs.
*9. EEPROMs
Non-volatile memory that erases or rewrites data electrically (voltage) and can retain data even when the power is shut
*10. RESET ICs
ICs that output reset signals to prevent operation while power is ON until the voltage reaches the normal level in order to
prevent malfunctions due to insufficient voltage.
*11. P2ROM(Production Programmed ROM)
Non-volatile memory developed by LAPIS Semiconductor Co., Ltd. Products are shipped after the customer's program
and data are written into memory at the factory. They are often used for gaming consoles, and feature a shorter turnaround
time (TAT) compared to conventional mask ROMs.
<Discrete Semiconductor Devices>
Consolidated net sales for the first nine months of the year ending March 31, 2013 were 74,749 million yen (a decrease of 6.9
percent from the first nine months of the year ended March 31, 2012), and segment profits were 7,036 million yen (a decrease of
30.9 percent from the first nine months of the year ended March 31, 2012).
In the diode and transistor segments, sales were down as inventory for flat screen TVs went through an adjustment period and
recovery from the flooding in Thailand tapered down (even in the automotive components market).
ROHM put much effort into enriching product lineups and increasing sales by developing SiC diodes and MOSFETs, which
ROHM began selling as next-generation high efficiency devices in 2010, and began mass-production of full SiC modules in
Regarding LEDs, sales of red, green, and white LEDs were strong but then lagged after the summer.
Concerning laser diodes, sales of dual-wavelength pulsation laser diodes for CD/DVD (*12) and others increased, but hit a
wall in the second half of the year.
Regarding production systems, ROHM continued to reduce costs by improving production efficiency, and made considerable
efforts to enhance its BCM (Business Continuity Management) system at individual group factories in Thailand, the Philippines,
and Tianjin in China.
*12. Dual-wavelength pulsation laser diodes for CD/DVD
Self-pulsation-type dual-wavelength laser diodes in which a single element generates two lasers, a 780nm beam for
playing CDs and a 650nm type for playing DVDs.
<Other>
percent from the first nine months of the year ended March 31, 2012), and segment losses were 725 million yen (segment profits
of 447 million yen recorded in the first nine months of the year ended March 31, 2012).
In the resistor category, sales gradually recovered from the damage caused by the flooding in Thailand, but compact resistors,
including 0603 and 0402 sizes, which saw a favorable increase in sales for mobile phones, entered an adjustment phase that was
harsh on overall results.
Tantalum capacitors bounced back from sluggish sales by expanding market share and recovering from the damage caused by
the flooding in Thailand.
With optical modules, sales of infrared LED sensors, etc. for smartphones entered an adjustment phase after the summer.
Regarding LED lighting products, sales increased due to growing energy concerns.
In the power module category, power supply modules for LED lighting enjoyed increased sales, and sales overall were strong.
Concerning thermal printheads, sales for mini-printers recovered and sales of image sensor heads for scanners increased after
the summer.
In the medical field, sales of micro-blood analysis systems were strong.
Regarding production systems, ROHM strove to improve production efficiency, reduce costs, and continued to strengthen its
BCM (Business Continuity Management) system at group factories in Thailand, the Philippines, and Dalian and Tianjin in China.
It should be noted that the above sales are for external customers.
Analysis regarding status of assets, liabilities, and net assets
During the first nine months of the year ending March 31, 2013, total assets decreased by 11,908 million yen from the previous
fiscal year, amounting to 725,418 million yen. The main factors behind the decrease were that other current assets decreased by
30,379 million yen (including accrued insurance payouts for flooding in Thailand of 30,130 million yen), and cash and time
deposits decreased by 10,170 million yen. On the other hand, inventory assets increased by 9,247 million yen, tangible fixed
assets increased by 8,721 million yen, and marketable securities increased by 7,986 million yen.
Liabilities decreased by 21,667 million yen from the previous fiscal year, amounting to 81,379 million yen. The main causes
were that accounts payable decreased by 11,822 million yen, notes and accounts payable trade decreased by 3,815 million yen,
and allowance for restructuring expenses decreased by 2,056 million yen.
Net assets increased by 9,759 million yen from the previous fiscal year, amounting to 644,039 million yen. The main causes
were an increase in foreign currency translation adjustments by 13,661 million yen, a decrease in shareholders' equity by 2,493
million yen, and net unrealized gain on available-for-sale securities by 1,453 million yen.
Consequently, equity ratio increased from the 86.0 percent of the previous fiscal year to 88.7 percent.
In regards to the business environment in the first nine months of the year ending March 31, 2013, ordinary income surpassed
our projection as a foreign currency exchange gain was unexpectedly recorded in the quarter as exchange rates for the yen
showed a tendency towards depreciation after December. However, the market environment has increased its severity as the
smartphone market transitioned into an adjustment phase. And, depending on future market conditions, factors that further eat
away at performance may arise, thus the situation is unpredictable. Accordingly, at present, it is difficult to accurately forecast
business. Therefore, the forecast for this period has not changed from that announced in the 'Financial Report for the First Six
Months of the Year Ending March 31, 2013.'
(Unit: millions of yen)
End of the accounting year
Cash and time deposits
Notes and accounts receivable trade
Commodities and products
Products in progress
Raw materials and inventories
Prepaid pension cost
Deferred tax assets
Refundable income taxes
Allowance for doubtful accounts
-563,585
Total intangible fixed assets
Investments and other assets
Tangible fixed assets
Machinery, equipment and vehicles
Tools and furniture
Total tangible fixed assets
Intangible fixed assets
Total investments and other assets
Total fixed assets
Notes and accounts payable trade
Other accounts payable
Accrued income taxes
Allowance for restructuring expenses
Allowance for disaster loss
Long-term liabilities
Liabilities for retirement benefits
Capital stock
Capital surplus
Treasury stock-at cost
Net unrealized gain on available-for-sale securities
Foreign currency translation adjustments
Total other comprehensive income
Minority interests
Total of liabilities and net assets
(First nine months of the year ending March 31, 2013)
(From April 1, 2011
To December 31, 2011)
Total non-operating income
Foreign currency exchange loss
Total non-operating expenses
Non-operating income
Dividends income
Foreign currency exchange gain
Gain on sale of fixed assets
Gain on sale of investment securities
Gain on insurance adjustments
Total extraordinary gains
Loss on sale/disposal of fixed assets
Abandonment loss on fixed assets
Impairment loss
Loss from disaster
Loss on reduction of fixed assets
Loss on revaluation of investment securities
Loss on revaluation of affiliate companies' stocks
Loss from provision for product warranty
Total extraordinary losses
Income (-loss) before income taxes
Income taxes-current
Income taxes-deferred
Total income taxes
Income (-loss) before minority interests
Net income (-loss)
Valuation differences of available-for-sale securities
Other valuation differences of foreign exchange
(breakdown)
Comprehensive Income Attributable to Parent
Company Shareholders
Comprehensive Income Attributable to Minority
No applicable items
(5) Segment information etc.
[Segment information]
First nine months of the year ended March 31, 2012 (From April 1, 2011 to December 31, 2011)
Information on net sales, profits or losses by individual reportable segments
Amount on
statement of
(Note 3)
Reportable segments
Adjusted
Sales to customers
Inter-segment sales
or transfer
Segment profit (-loss)
(Note) 1. "Others" is an operational segment that is not included in reportable segments, consisting of business in resistors,
printheads, optical modules, tantalum capacitors, power modules, and lightings (LEDs).
2. The adjusted amount of the segment profit or loss, 2,036 million yen, mainly includes general administrative
expenses of minus 559 million yen that do not attribute to the segment, and the settlement adjusted amount of 2,596
million yen, which is not allocated to the segment (such as adjustment for retirement benefits).
3. For segment profits or loss, adjustments are made using the operating income of the consolidated quarterly statement
of income.
First nine months of the year ending March 31, 2013 (From April 1, 2012 to December 31, 2012)
1. Information on net sales, profits or losses by individual reportable segments
printheads, optical modules, tantalum capacitors, power modules, and lightings.
2. Information on impairment loss of fixed assets or goodwill of individual reportable segments
<Significant impairment loss on fixed assets>
As for idle assets that do not belong to a reportable segment, an impairment loss of 1,545 million yen was recorded.
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